Investment Trust Insider on the importance of diversification James Carthew: Herald shows Woodford and Biopharma the importance of diversification A month ago I wondered when Biopharma Credit (BPCR), the biggest investment company launch of the year, would get its flotation proceeds invested. Last week it took a big step towards answering this question by committing […]
INPP adds to Australian rolling stock project – International Public Partnerships Limited (“INPP”) has announced the acquisition of an additional interest in the Australian rolling stock public-private partnership, the Reliance Rail PPP Project. INPP has invested c.A$154 million (cGBP88 million) and will now own a 33% interest in the project with the remaining interest held […]
Hg gets bid for Ullink – Hg, the Manager of HgCapital Trust plc, has announced that it has received a definitive binding offer from Itiviti, a company backed by Nordic Capital, to acquire Ullink, a leading global provider of electronic trading and connectivity solutions to the financial community. This proposed sale is subject to French […]
Shaftesbury looks forward to Crossrail completion – Shaftesbury has posted results for the year ended 30 September 2017 that show that its EPRA NAV rose by 7.2% over the year to 952p and its EPRA earnings per share came in at 16.2p, up 15.7% on the year. The dividend has been increased from 14.7p to […]
International Public Partnership consortium preferred bidder for OFTO project – International Public Partnerships Limited says that it is pleased that Transmission Capital Partners, the consortium comprising INPP, Amber Infrastructure and Transmission Investment has been appointed as preferred bidder for the long-term license and operation of a further offshore transmission project. The latest scheme, comprising the […]
Infrastructure India in refinancing discussions. In May Infrastructure India plc provided the following update: On 6 April 2017, Infrastructure India announced that the maturity date of the fully drawn US$17 million working capital loan facility provided to the company by GGIC, Ltd in April 2013 had been extended to 9 June 2017. The company does not currently have […]
Troy’s defensive stance leads to underperformance this year – For the year ended 30 September 2017, Troy Income & Growth returned +5.9% in NAV terms and a share price total return of +4.0%; the All-Share Index returned +11.9% for the period. The aggregate dividends for the year totalled 2.56p and represented an increase of 5.6% over […]
LondonMetric Property sells two leisure assets – LondonMetric Property has exchanged on the sale of an Odeon Cinema in Derby and a retail asset in Guisborough for GBP18.6 million reflecting a blended net initial yield of 4.8%. At Derby, the 10 screen, 37,000 sq ft cinema formed part of a portfolio of ten Odeon Cinemas […]
Primary Health Properties invests in Wincanton – Primary Health Properties has acquired a modern, well let, purpose built healthcare facility for a total consideration of GBP4.37 million (net assets of GBP4.37 million). PHP has acquired the entire issued share capital of Wincanton Healthcare Limited, a company whose assets and activity is the ownership of Wincanton Medical […]
Residential Secure Income buys 1341 retirement homes – Residential Secure Income plc has announced the completion of its first acquisition with the purchase of a rental homes portfolio comprising 1,341 retirement properties for a total consideration of approximately £100m. The UK-wide portfolio is concentrated in Southern England and comprises long-leasehold or freehold interests in primarily one […]
Schroder Oriental Income caps performance fee – Schroder Oriental Income Fund Limited has announced that its manager has agreed to reduce the cap on the performance fee payable to it from 1.00% to 0.75% of the net assets calculated at the end of any one accounting period, effective from 1 September 2017. The news came as […]
Custodian REIT buys Superdrug in Worcester – Custodian REIT has acquired a high street retail unit in Worcester let to Superdrug Stores plc. The property comprises a ground floor sales unit with upper floor ancillary accommodation, located in the prime retail pitch of High Street. Nearby shops include Boots, Marks & Spencer, Debenhams, TK Maxx, and […]
JPEL fund sells Celerion – JPEL Private Equity, which invests in a portfolio private equity funds, has announced that MTS Health Investors, LLC, a healthcare-focused private equity firm, announced that its portfolio company Celerion Holdings, Inc. is being sold to a partnership between Court Square Capital Partners and the Celerion management team, who will continue to own a minority interest in […]
Hammerson sells Places des Halles in Strasbourg – Hammerson has exchanged contracts for the sale of its share (64.5%) of Place des Halles shopping centre in Strasbourg, France. LaSalle Investment Management will purchase the centre from Hammerson and its co-owner, on behalf of funds under management, for a total net vendor price (100%) of EUR […]
BioPharma Credit makes first major investment since IPO – BioPharma Credit PLC says that, on 21 November 2017, it and BioPharma Credit Investments IV, S.àr.L.entered into a definitive loan agreement for up to US$500 million with TESARO, Inc. (NASDAQ: TSRO), a oncology focused biopharmaceutical company with a market capitalisation of US$4.5 billion. TESARO has commercial […]
Blue Capital Alternative projects 10%-15% returns in 2018 – after taking a big hit to NAV from this year’s disasters, including, most recently, the Californian wildfires that engulfed large areas of northern California and sadly took 43 lives, Blue Capital Alternative Income has been talking about its discount and its plans for next year. Discount Management […]
HICL comments on PFI/PPP situation – HICL Infrastructure has released interim results covering he six months ended 30 September 2017. The highlights from these are that the NAV total return for the period was 8.9%, HICL is on track to hit its 7.85p dividend target this year and is targeting 8.05p for the year to […]
Investment Trust Insider on Sherborne James Carthew: the trusts that could be Sherborne’s next takeover target At the beginning of July 2017, Sherborne Investors C (SIGC) raised £700 million to ‘realise capital growth from investment in a target company identified by the investment manager with the aim of generating a significant capital return for shareholders.’ […]
LondonMetric sells Tesco warehouse – LondonMetric Property has announced the disposal of a Tesco’s logistics warehouse in Bolton for GBP24.4 million, reflecting a net initial yield of 5.35%. The 274,000 sq ft regional warehouse was acquired as part of the GBP117 million Cabot logistics portfolio in August 2017 off a blended NIY of 6.1%. The […]
Standard Life Property Income buys Bracknell office – Standard Life Investments Property Income Trust has completed the purchase of a multi let office, 1 Station Square, in Bracknell for GBP12m, reflecting a yield of 6.9% on the topped up rent. The office has had a substantial refurbishment, and is located adjacent to Bracknell train station, and […]
New manager for Schroder European Real Estate – The Board of Schroder European Real Estate Investment Trust has announced that, from 1 January 2018, Jeff O’Dwyer will take over all day-to-day responsibilities for portfolio management of the company, and Tony Smedley will cease to be involved. Jeff has been involved in the management of the portfolio since […]
Tritax buys two more logistics facilities – Tritax Big Box REIT has exchanged contracts to acquire two separate, modern logistics facilities from a single vendor for a combined purchase price of GBP43.86 million, which are both being funded from equity. Cerealto (UK) Limited National Distribution Centre at Dukeries Industrial Estate, Worksop, Nottinghamshire The facility at […]
MedicX invests in South Wales – MedicX Fund has contracted to acquire, by way of forward funding, a new primary healthcare medical centre near Glynneath in the Vale of Neath, South Wales. The property is due to be completed in September 2018. The acquisition is being made under the framework agreement which provides MedicX Fund […]
Schroder Income matches benchmark beats peers – Schroder Income Growth says that, for the year ended 31 August 2017, the company returned 14.3% in NAV terms, matching the All-Share Index and ahead of the AIC UK Equity Income peer group average of 13.0%. The share price increased by 18.8% in total return terms during the […]
MedicX sells five properties – As part of its planned asset management activities, MedicX Fund has today, Thursday 16 November 2017, completed the disposal of five primary healthcare properties located in Wolverhampton, Southampton, Gravesend, Leicester and Grimsby. The total gross sale price was GBP5,575,000, representing a gain of approximately GBP250,000 over the most recent external […]
Pacific Industrial sells Bedford property – Pacific Industrial & Logistics says that, on 16 November 2017, it completed the sale of an asset located at Hammond Road, Bedford, for a total consideration of GBP5.8 million. The sale price represents a net initial yield of 6.0%. The Disposal follows the recent letting of the property on a 10-year […]
VPC Speciality Lending invests more in Borro – Victory Park Capital, VPC Speciality Lending’s investment manager has decided that the funds that it runs will take a majority equity stake in Borro. Through this transaction, VPC Speciality Lending will end up owning approximately 49% of Borro. The remaining 51% of the equity will be held by […]
Eastern European Property consults on way forward – Eastern European Property Fund Limited continues to procure and progress negotiations with interested parties with a view to securing the disposal of EEP’s remaining key property asset as soon as possible. However, as highlighted in the company’s interim report for the period to 30 June 2017, the […]
European Assets introduces tiered fee – In response to a sustained period of growth in net assets, the Supervisory Board of European Assets Trust NV has decided to announce an amendment to the basis of calculation of the investment management fee payable to F&C Investment Business Limited, the investment manager. Previously, the investment manager received […]
Ediston plans dividend hike as buys four retail warehouse parks – Ediston Property Income is seeking to expand and raise its dividend at the same time. Dividend increase “It is the Board’s intention to increase the annualised dividend by 4.5 per cent. to 5.75 pence per share, in the absence of unforeseen circumstances, commencing with the dividend in […]
